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What is Hibah

Chapter 15
Economics, Business, and Islamic Finance in ASEAN Economics Community
A gift of an asset(s) made voluntarily by a donor during his/her lifetime to the beneficiary without any consideration.
Published in Chapter:
Financial Accessibility and Small-Medium Enterprises (SMEs) in Malaysia: The Role of Crowdfunding and Islamic Finance
Mohamed Asmy Bin Mohd Thas Thaker (International Islamic University Malaysia, Malaysia), Hassanudin Bin Mohd Thas Thaker (Sunway University, Malaysia), and Choong Pai Wei (Sunway University, Malaysia)
Copyright: © 2020 |Pages: 20
DOI: 10.4018/978-1-7998-2257-8.ch015
Abstract
One of the common problems faced by worldwide SMEs including Malaysia is accessing external financial services. Given this fact, this chapter offers a sustainable model of source of financing for Malaysian SMEs in meeting their financial need, which is known as Islamic Crowdfunding-Small and Medium Enterprises (ICSMEs) model. Authors review comprehensive literature by focusing on the issues of financial accessibility faced by Malaysian SMEs, and the existing studies relating to SMEs, crowdfunding, and Islamic finance in support to construct ICSME model. Authors discuss the modus operandi of the proposed ICSME model and offer several significances of the model.
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